Lyft (NASDAQ:LYFT) Given New $18.00 Price Target at DA Davidson

Lyft (NASDAQ:LYFT) had its target price hoisted by equities research analysts at DA Davidson from $15.00 to $18.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the ride-sharing company’s stock. DA Davidson’s price target would suggest a potential upside of 8.43% from the stock’s previous close.

A number of other research firms have also weighed in on LYFT. The Goldman Sachs Group lowered shares of Lyft from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $12.00 to $15.00 in a research note on Thursday, January 11th. Argus upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, March 5th. UBS Group boosted their price target on Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Moffett Nathanson raised shares of Lyft from a “sell” rating to a “neutral” rating in a research note on Wednesday, February 14th. Finally, Wedbush reissued a “neutral” rating and set a $15.00 price target (up from $14.00) on shares of Lyft in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.45.

Lyft Trading Down 5.3 %

Shares of Lyft stock opened at $16.60 on Wednesday. Lyft has a 12-month low of $7.85 and a 12-month high of $20.82. The firm’s 50 day simple moving average is $17.75 and its two-hundred day simple moving average is $14.58. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of -18.65 and a beta of 2.05.

Lyft (NASDAQ:LYFT) last released its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.14. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. Analysts predict that Lyft will post -0.35 EPS for the current year.

Insider Activity at Lyft

In related news, President Kristin Sverchek sold 3,500 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $17.51, for a total value of $61,285.00. Following the completion of the sale, the president now owns 96,978 shares of the company’s stock, valued at $1,698,084.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, President Kristin Sverchek sold 3,500 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $17.51, for a total value of $61,285.00. Following the completion of the sale, the president now owns 96,978 shares of the company’s stock, valued at $1,698,084.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Patrick Zimmer sold 15,724 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $17.51, for a total transaction of $275,327.24. Following the completion of the transaction, the director now owns 1,204,071 shares in the company, valued at $21,083,283.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 280,526 shares of company stock valued at $5,358,031. Corporate insiders own 3.16% of the company’s stock.

Institutional Investors Weigh In On Lyft

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Lyft during the 4th quarter worth approximately $94,687,000. Kodai Capital Management LP acquired a new stake in shares of Lyft in the fourth quarter valued at $26,069,000. Bank of Nova Scotia purchased a new stake in shares of Lyft in the 4th quarter valued at $21,433,000. Vanguard Group Inc. lifted its stake in Lyft by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock worth $331,562,000 after acquiring an additional 1,135,036 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Lyft by 126.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,937,357 shares of the ride-sharing company’s stock valued at $29,041,000 after acquiring an additional 1,080,009 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.